Do you need to sell your house with tenants in Tacoma? The process can be much more difficult than a typical sale. Learn more about what to expect in our latest post!
Do own an investment property in Seattle-Tacoma WA that isn’t cash flowing and not making you money. Maybe you are exhausted from all the tenant turnover. Maybe you’re sick of working with disrespectful and uncooperative tenants, but you are not wanting to deal with the whole eviction process. There are a numerous reasons why a landlord would need to sell a house with tenants in Seattle-Tacoma. You may have found that it can be difficult to convince your tenant that selling the house is a good idea. Often times the tenants don’t want to leave or have dreams of buying the property themselves. In order to get their support, you’ll want to fill them in on everything going on, and make selling the property worth their while too.
Offer An Incentive
If your plan is to list the house with a Seattle-Tacoma real estate agent, you will want the full cooperation of your tenant. By offering an incentive, you’ll ease some resentment your tenants may have for selling the house out from under them. You should remember, that while you own the house, it is still the place they call home. By offering to help pay first month’s rent somewhere else, a discount on the amount of rent they are paying, or even moving costs, you will hopefully be able to get them to help you facilitate the sale. You might also offer to help them find a new house to rent, providing an excellent reference if needed. Keep in mind, that asking them to clean and leave while the house is been shown is a lot. Make sure you compensate your tenants correctly to make the whole process run seamlessly.
If the house is going to be shown with a tenant still occupying the property, offer to pay for a professional cleaning service or a maid so that the work isn’t falling on them. You can also offer them movie tickets or a gift certificate to a spa or restaurant so they have something to do while the property is being shown.
Wait Until The Lease Is Up
As a landlord who wants to sell their house with a Seattle-Tacoma real estate agent, it may be best to wait until the lease is up. Trying to coordinate all the repair work, property showings, and keeping the house in showing ready condition can be a too much for a landlord to ask of their tenant. In many cases, landlords face backlash and even situations where the tenants disrupt a potential sale. It can be better for everyone if you are able to wait until the lease agreement is up before selling the house in the traditional way.
Terminate The Lease
If your tenant has violated the lease in any way, you can evoke an early termination clause in the lease. Not that you want them to slip up, but if they have been consistently late on rent or have been a documented nuisance to the nearby neighbors, you may be able to end the lease sooner than planned. When drafting your rental agreement, make sure to include details on what exactly will merit an early termination of the agreement.
Sell Your House Directly
If you want to sell your house with tenants in Tacoma, the easiest way is by choosing a direct sale to Kind House Buyers. We will buy your house directly, whether you have tenants or not. Our process will let you get rid of the unwanted investment as quickly as possible while receiving a great price for the home. In most cases, when you sell your house directly to Kind House Buyers, the lease will stay in place and your tenant will go undisturbed. The only change for them will be where to send the check each month.
Find Out If Your Tenant Wants To Buy
When looking to sell your house with tenants in Tacoma, you may want to let them know about it first. They already live there, so no moving is involved. They have likely made the house their home and gotten accustomed to the neighborhood. If your tenants seem are happy to live there, they may want to buy the house themselves. If financing is a problem and you don’t need the full amount for the property right away, owner financing can be an option if you own the property outright, at least until they are able to get the credit or cash they need for a traditional loan.
Understand The Tenants Rights
When trying to sell your house with a tenant in Tacoma, you’ll need to be aware of the rights of the tenants. So long as no violation has occurred, in most places, a tenant has the right to stay in the home until the lease is up, whether or not someone buys the home. Here is a recent Publication for Tenants Rights In Seattle that lays out in detail the rules and regulations around tenant landlord activities.